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Innovation based economic development for industry in haverhill
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Innovation based economic development for industry in haverhill

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  • 1. John Michitson Haverhill City Council July 9, 2013
  • 2.  What is in it for us?  Startups as an economic engine  Recent/ongoing marketing initiatives  Recent State initiatives for economic development  Tax-Free Community - New York Model  Preliminary recommendations for: ◦ Mayor’s Industrial and Development Committee ◦ Seeking City Council feedback and support
  • 3.  Our objective is to create 1000 new jobs and attract $3M in new revenue to Haverhill’s industrial base by 2020 Computer & Research Drive: • 2 Lots • Each Lot is $250K Recurring Revenue Opportunity Hilldale Business Park: • Several undeveloped Lots • MVPC Priority Area for Development Example Opportunities
  • 4. Of 134 Massachusetts municipalities surveyed for concentration of manufacturing jobs, Haverhill ranked #85, with 44 jobs in manufacturing per 1000 Residents. How do we compare with some other nearby communities?  Andover #1 (340/1000…Nearly 8 times Haverhill)  Wilmington #3 (291/1000…6.6 times Haverhill)  Bedford #9 (177/1000…4 times Haverhill)  Billerica #12 (138/1000…3.2 times Haverhill)  Chelmsford #16 (122/1000…2.8 times Haverhill)  Amesbury #33  New Bedford #38  Ipswich #42  Lawrence #60 (64/1000…45% higher than Haverhill)  HAVERHILL #85 (44/1000)  Lowell/ Methuen (37/1000…19% below Haverhill) Opportunities for Improved Performance Source: “Staying Power II: A Report Card on Manufacturing in Massachusetts 2012”
  • 5.  Startups spur job growth ◦ In San Jose, 39 percent of job growth comes from first-year startups, says Jeff Ruster, deputy director of the city’s Office of Economic Development  Established businesses move in seeking innovation partnerships (follow mindshare critical mass)  Just a few years ago, the South Boston Waterfront didn’t have much to it ◦ MassChallenge moved into district in 2010 ◦ Startups followed ◦ Established companies moved in:  Vertex Pharmaceuticals  McGraw Hill Education  Zipcar  Gazelle  Etc. Vertex Pharmaceuticals - Two New Buildings Under Construction In Boston’s Innovation District
  • 6.  Haverhill Hardware Horizons Challenge (H3C) completed ◦ Haverhill recognized across Greater Boston, Route 128 and Merrimack Valley as “Welcoming to Startups” ◦ Effort included establishment of H3C mentors  Hosted Merrimack Valley’s first Regional Open Innovation Conference  Burgess Business Center & incubator continues to attract and retain startups and a wide variety of small businesses
  • 7.  Adaptive, affordable manufacturing in target growth sectors ◦ Manufacturing arm for R&D companies in Greater Boston and Route 128 ◦ Nimble to meet startup needs  Well-promoted incentives: ◦ Public-build on Mayor’s expedited permitting strategy, infrastructure improvements, explore tax incentives ◦ Private-H3C Challenge and Burgess Business Center a good start ◦ Education-workforce development for manufacturing  Strong manufacturing workforce at all levels  Affordable start-up space  Diverse, affordable housing stock  Emerging downtown amenities
  • 8. Tech start-ups welcome in Haverhill By Brenda J. Buote GLOBE CORRESPONDENT MAY 02, 2013 PHOTOS BY JIM DAVIS/ GLOBE STAFF More than 50 businesses attended the city’s first conference on open innovation in March, where new products were demonstrated. http://www.bostonglobe.com/metro/regionals/north/2013/05/01/tech-start-ups-welcome- haverhill/LacNPkQn3Jeh0Zhzj2EGxJ/story.html strings attached! Headline
  • 9.  The Massachusetts Technology Collaborative (“MassTech”) and Executive Office of Housing and Economic Development (“EOHED”) announced: ◦ New initiative to expand and strengthen entrepreneur and startup mentoring activities across underserved populations, regions, and industries in the Commonwealth  Request for Information/Expressions of Interest due: August 2nd  Request for Proposal (RFP) will be issued in late summer 2013 for interested parties ◦ To apply for modest grants totaling up to $1 million in the aggregate ◦ http://www.masstech.org/sites/mtc/files/documents/2 013-JAII-01_RFI_MentoringInitiative.pdf
  • 10.  Priority areas in the state’s updated Merrimack Valley Regional Plan by MVPC will receive preference for state and federal assistance ◦ Will receive expanded marketing attention by the state, including assistance in obtaining financing and with expedited permitting  Priority areas identified in Haverhill: Hilldale Business Park and Downtown/Water Street ◦ http://www.mass.gov/hed/economic/eohed/pro/pl anning/merrimack/
  • 11.  All SUNY campuses outside of New York City and designated private colleges north of Westchester will be tax free (no sales, property, or business/corporate taxes)  Up to 200,000 square feet surrounding the campus will be included in the tax-free community  Employees Exempt from Income Taxes  3 million sq. ft. in commercial space will be available at New York's private universities and twenty strategic state assets will also be designated tax-free.  Eligible businesses include companies with relationship to academic mission of university and companies creating new jobs  http://www.cpapracticeadvisor.com/news/10947798/tax- free-new-york-offers-10-years-of-zero-sales-property- business-taxes
  • 12.  Formulate proactive, innovation-based economic development strategy (e.g. use Holyoke Innovation District Study as guide)  Develop user-friendly database of available properties and rental space (Mayor to launch)  Design a new Haverhill Hardware Horizons Challenge to directly attract startups to Haverhill  Develop a top-notch Haverhill business mentoring corps  Leverage Massachusetts Technology Collaborative’s request for information (RFI)  Work with Merrimack Valley Planning Commission and State officials to develop proposal with stronger tax and financial incentives ◦ Pilot program in Haverhill
  • 13.  Preliminary target industries (based on embedded base, experience and research) ◦ Food Manufacturing ◦ Industrial (Industrial captures Robotics/Automation, Instrumentation, Clean Tech) ◦ Tech ◦ Medical devices  Key strategy – Become Manufacturing arm for R&D companies in Boston and Route 128
  • 14. Backup
  • 15. A Cluster of Entrepreneurs and Talented Workers A Robust and Engaged Education Network Collaborative Business Practices and Tools Access to Capital Resources, and Local and Global Markets Vision, Leadership & Social Capital Creative Facilities for Rapid Prototyping & Collaboration Critical Elements of Open Innovation
  • 16. Sponsors